CryptoQuant CEO: BTC needs to remain above $80,000 for miners to remain profitable after halving
Bitcoin mining revenue significantly decreased in May due to the impact of the fourth Bitcoin halving event. On May 1st, the total revenue from block rewards and transaction fees reached a new low of only $26.3 million.CryptoQuant CEO Ki Young Ju calculated that, based on current conditions, Bitcoin needs to stay above $80,000 for miners to remain profitable after the halving. However, most miners have taken proactive measures to upgrade their mining equipment to lower long-term operating costs and remain competitive.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Shiba Inu Grows Stronger as a Community-Driven Cryptocurrency
Investor Turns $1.3K Into $12.45M in 16 Days Through Moo Deng Memecoin
BlackRock, Fidelity, and Ark Lead $1.1B Surge in Bitcoin ETF Investments
Shiba Inu Community Stays Strong Despite Market Challenges
Trending news
MoreCrypto prices
More
